Midway through trading Wednesday, the Dow traded down 0.57 percent to 16,620.60 while the NASDAQ declined 0.62 percent to 4,104.21. The S&P also fell, dropping 0.46 percent to 1,888.71.

Leading and Lagging Sectors
Utilities shares gained around 0.89 percent in trading on Wednesday. Meanwhile, top gainers in the sector included Companhia Paranaense de Energia (NYSE: ELP), up 3.9 percent, and Companhia Energética de Minas Gerais (NYSE: CIG), up 3 percent. In trading on Wednesday, cyclical consumer goods & services shares were relative laggards, down on the day by about 0.61 percent.

Top decliners in the sector included Fossil Group (NASDAQ: FOSL), down 8.8 percent, and Accuride (NYSE: ACW), off 7.7 percent.

Top Headline
Macy's (NYSE: M) reported a rise in its first-quarter earnings. Macy's reaffirmed its outlook for the full year. It also increased its share-buyback plan by $1.5 billion and lifted its dividend by 25% to 31.25 cents per share. Macy's posted a quarterly profit of $224 million, or $0.60 per share, versus a year-ago profit of $217 million, or $0.55 per share. Its revenue slipped 1.7% to $6.28 billion. However, analysts were expecting earnings of $0.59 per share on revenue of $6.46 billion. Its revenue at stores open at least a year dropped 0.8%.

Equities Trading UP
SunOpta (NASDAQ: STKL) shares shot up 11.64 percent to $12.56 after the company reported upbeat Q1 earnings.

Shares of Celledex Therapeutics (NASDAQ: CLDX) were up as well, gaining a staggering 27.34 percent to $15.79 after the company cut a deal with Bristol Myers on its immuno oncology trial.

The Rubicon Project (NYSE: RUBI) shares were also up, gaining 9.32 percent to $12.55 after the company reported upbeat Q1 results and issued a strong outlook.

Equities Trading DOWN
Shares of Fossil Group (NASDAQ: FOSL) were down 9.04 percent to $101.37 after the company issued a downbeat guidance. The company projected Q2 earnings of $0.90 to $0.97 per share, versus analysts' estimates of $1.16 per share.

Plug Power (NASDAQ: PLUG) was down as well, dropping 7.33 percent to $3.79 after the company's first quarter results and earnings call disappointed the street.

Take-Two Interactive Software (NASDAQ: TTWO) was down, falling 7.42 percent to $19.10 after the company issued a weak outlook. For the first quarter, the company expected an adjusted loss of $0.35 to $0.25 per share on revenue of $120 million to $125 million. However, analysts expected a loss of $0.12 per share on revenue of $209.6 million.